New Zealand Consumer Confidence August 2019

New Zealand: Consumer confidence bounces back in August

The ANZ-Roy Morgan consumer confidence indicator rose to 118.2 in August (July: 116.4), moving further above from the 100-point threshold that separates optimism from pessimism among consumers.

Consumers had better assessments about their current financial situation compared to one year ago, and they also grew more optimistic about their future personal finances . Moreover, their expectations on future house prices increased a bit.

FocusEconomics panelists expect private consumption to grow 3.1% in 2019, which is up 0.2 percentage points from last month’s forecast, and 2.4% in 2020.

On 14 May, the government unveiled an NZD 50 billion (USD 30 billion) stimulus package, largely focused on supporting employment in an effort to kickstart the economy following the impact of the coronavirus outbreak and consequent lockdown.

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